Shops to remain open as Quiznos files for bankruptcy

Quiznos

Credit: Getty Images

Denver-based sandwich restaurant chain Quiznos has filed for bankruptcy as it struggles with stiff competition from other sandwich chains. (Photo by Justin Sullivan/Getty Images)

Print
Email
|

by WALT ZWIRKO

WFAA

Posted on March 14, 2014 at 12:26 PM

Updated Friday, Mar 14 at 12:30 PM

Your neighborhood Quiznos sandwich shop remains in business, but the Denver-based company that provides the franchise on Friday filed for Chapter 11 bankruptcy protection.

"The actions we are taking are intended to enable Quiznos to reduce our debt, execute a comprehensive plan to further enhance the customer experience, elevate the profile of the brand and help increase sales and profits for our franchise owners," said Stuart K. Mathis, Quiznos chief executive officer.

Quiznos has about two dozen franchised locations in North Texas among its more than 2,000 shops in the U.S. and 30 other countries.

The bankruptcy will reduce the company's debt by more than $400 million, and includes plans to reduce food costs and to help franchisees operate more efficiently as they compete with segment leader Subway.

Print
Email
|